Items Tagged with 'Puerto Rico'

ARTICLES

  • FHA pushing to provide foreclosure relief to Puerto Rico, Virgin Islands hurricane victims

    Extends foreclosure moratorium deadline one last time
    The foreclosure moratorium for 2017 hurricane victims in Puerto Rico and the U.S. Virgin Islands whose mortgages are guaranteed by the Federal Housing Administration was due to end this week, but the FHA announced Thursday that it is extending the foreclosure freeze again – for the last time. But that’s not all.
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  • HUD approves Puerto Rico's $1.5B recovery plan

    Plans to publish guidance rules shortly
    U.S. Department of Housing and Urban Development Secretary Ben Carson recently announced HUD has approved a $1.5 billion disaster recovery plan aimed at helping Puerto Rican citizens recover from hurricanes Irma and Maria. Puerto Rico’s plan focuses primarily on the restoration of damaged and destroyed homes, businesses and infrastructure.
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  • Hurricane Maria drives Americans to invest in Puerto Rican homes

    Home prices drop 15% since storm
    At the end of last year, Puerto Rico suffered a devastating hurricane, which some estimates say killed as many as 5,000 and left the island without power for weeks. Now, Americans are moving in on the island, capitalizing on the downward trend in real estate prices due to the storm. A new study shows home prices on the island decreased by an average 15% since the storm.
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  • Puerto Rican mayor arrested for misuse of HUD funds

    Mayor and 2 others accused of defrauding government of $8 million
    A Puerto Rican mayor and two former government officials are accused of misusing funds from HUD and other government agencies. The three officials were recently arrested on corruption charges that involved $8 million in federal and local funds.
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  • Judge again extends FEMA evictions of Hurricane Maria victims

    Evictions now pending formal hearing
    On Saturday, a federal court ordered a temporary halt of evictions for nearly 2,000 victims of Hurricane Maria, and now the court is again extending the halt on the evictions. After a meeting Tuesday, Judge Timothy Hillman issued an order backing the extension of the temporary restraining order to July 23, pending a formal hearing.
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  • Court temporarily halts evictions of 2,000 Puerto Rican disaster victims

    NLIHC calls on Congress for permanent solution
    A federal court ordered a temporary halt Saturday of the eviction of nearly 2,000 victims displaced by 2017’s natural disasters. The lawsuit alleged that FEMA was planning to prematurely abort its assistance to thousands of Puerto Ricans displaced by Hurricane Maria. But the temporary halt will not last long, and groups are now urging Congress to act.
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  • FHA extends foreclosure moratorium for HECM borrowers in Puerto Rico, Virgin Islands

    Extends foreclosure freeze for hurricane victims
    Earlier this month, HUD announced that the FHA would be extending the foreclosure moratorium for Hurricane Maria victims in Puerto Rico and the U.S. Virgin Islands. The extension dealt only with forward borrowers, but HUD and the FHA are now extending the foreclosure moratorium for Home Equity Conversion Mortgage borrowers as well.
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  • HUD awards $1.5 billion to Puerto Rico hurricane relief

    Pamela Patenaude announces grants in third visit to island
    The U.S. Department of Housing and Urban Development announced it will award $1.5 billion in grants to help Puerto Rico recover from hurricanes Irma and Maria. The announcement was made by HUD Deputy Secretary Pamela Hughes Patenaude alongside Governor Ricardo Rosselló during her third visit to the island since the hurricanes occurred.
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